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Jul 2, 2009
07/09
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bill clinton eliminated the deficit. barack obama has quadrupled that. bill clinton cut mortgage interest rates by three or four points. obama is letting them go up. bill clinton eliminated the deficit by cutting the capital gains tax from 28% to 20 and i'm not crazy, you cut that capital gains, more people sell, more people buy, they are more transactions and produce more revenue and permitted us to eliminate the budget deficit. i remember sitting with him and a yellow pad in the oval office and he literally wrote the budget from memory. this guy knew every one of the 50,000 lines in the federal budget and he wrote the budget, and those cuts ended up being completely meaningless. the only cut that mattered was the capital gains tax cut because that generated revenues that eliminated the deficit but obama is doing the opposite. he is so increasing the deficit that when you go to borrow money for your refinancing your home, the feds are elbowing you out of the way. the federal reserve board knows that if they let interest rates go as high as they are goin
bill clinton eliminated the deficit. barack obama has quadrupled that. bill clinton cut mortgage interest rates by three or four points. obama is letting them go up. bill clinton eliminated the deficit by cutting the capital gains tax from 28% to 20 and i'm not crazy, you cut that capital gains, more people sell, more people buy, they are more transactions and produce more revenue and permitted us to eliminate the budget deficit. i remember sitting with him and a yellow pad in the oval office...
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111
Mar 19, 2012
03/12
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and cares a lot about deficit reduction they he is not running for reelection. he has announced that. >> host: of freedom comes from the sense he is retired. >> he is freed to do and say what he once in the republican party cannot do anything to him. >> host: skip ahead to the solutions. they are hard to come by. the chapter is brief but i don't blame you it is hard to figure out. two categories of solutions. thinking of the deadlock system is a third-party presidential candidacy from the center you devote some time to that. is that the solution? could such a person when? >> lazard two separate questions spin 98 expend their energies? >> i will say we will hear more of the intended challenge as it gets going. group preissing $20 million, on the ballot in all 50 states to collect signatures without a candidate. it is alphabetical. we don't know yet who that candidate will be. >> host: do you know, ? >> i am not saying they're interested but i heard condoleeza rice, general petraeus, the jon huntsman is the kind of candidate. he says he has no interest so i am not
and cares a lot about deficit reduction they he is not running for reelection. he has announced that. >> host: of freedom comes from the sense he is retired. >> he is freed to do and say what he once in the republican party cannot do anything to him. >> host: skip ahead to the solutions. they are hard to come by. the chapter is brief but i don't blame you it is hard to figure out. two categories of solutions. thinking of the deadlock system is a third-party presidential...
5
5.0
Dec 21, 2021
12/21
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so the thinking of the deficit is bad. and so if you had a student loan thprogram the way the government did accounting and i'm eating out here but the way the government did accounting was if you generated $1 billion in student debt, let's say that you gave $1 billion inone year . total spending would rise up by that much. then in that one year. so the program looks very expensive when you gave students loans.and when students pay them back 10 years or whatever, then spending would go down because that would be counted as income . anyway the important thing to note is that having a student loan player among the governance books looks very expensive. so lyndon johnson came up with this idea and it wasn't just him. there were others but this idea that let's just have banks make loans to students. therefore no money has to come out of the treasury. atleast on the front-end. and so banks are doing it . then it will be off our books. and therefore the federal deficit will be unscathed. so this sounded great at the start but ba
so the thinking of the deficit is bad. and so if you had a student loan thprogram the way the government did accounting and i'm eating out here but the way the government did accounting was if you generated $1 billion in student debt, let's say that you gave $1 billion inone year . total spending would rise up by that much. then in that one year. so the program looks very expensive when you gave students loans.and when students pay them back 10 years or whatever, then spending would go down...
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Feb 17, 2010
02/10
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i mean, if you measure the stimulus as how much did the fiscal deficit go up, the combined deficit of the central and the state governments it was about three percentage points higher in each of the two years of the slowdown. now, we are greatly helped, of course, by the fact that earlier the high indian deficits used to be compared with the master criteria, and we didn't look very good. right now the whole point about comparing deficits is to look at what's happening elsewhere. we're reassured that the indian deficit is lower than the united states, lower than the unites kingdom -- united kingdom, so really all the fears that might have existed about the macroeconomics shouldn't exist today. but the signal we're clearly giving is we need to get back in a medium term to a more reasonable fiscal deficit position. it's not our view that the present fiscal deficit, which would probably be about 10% of gdp taking both the center and the stage together, it's not our view that this is the normal thing. but we want to bring it down gradually, and that's what policy will be aimed at. meanwhil
i mean, if you measure the stimulus as how much did the fiscal deficit go up, the combined deficit of the central and the state governments it was about three percentage points higher in each of the two years of the slowdown. now, we are greatly helped, of course, by the fact that earlier the high indian deficits used to be compared with the master criteria, and we didn't look very good. right now the whole point about comparing deficits is to look at what's happening elsewhere. we're reassured...
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Apr 10, 2010
04/10
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the deficit is too high. there's too many people unemployed. and i think obama is not concentrate on what the real problems are in this country. he's concentrating on his ideas. >> mark halperin? >> who was the name of that car? >> nancy. >> i would call that carnegie, a.k.a. david axelrod's worst nightmare. did not have to be worried about not just for the midterm election for the president of the potential reelection but for having political support in the country to pass this again in the short term. he has done a thing as the most dangerous for any politician. he has lost control for a large segment of the population of his public image, how he's been pretty. the reality is during the campaign he was very skillful at being what george bush successfully did come which is all things to all people. labels can see in his rhetoric and parts of his agenda someone would come to the white house and enact a very general agenda. though some policy differences. the thrust, and the expense, the scope is a similar to what he ran a. so people shouldn't b
the deficit is too high. there's too many people unemployed. and i think obama is not concentrate on what the real problems are in this country. he's concentrating on his ideas. >> mark halperin? >> who was the name of that car? >> nancy. >> i would call that carnegie, a.k.a. david axelrod's worst nightmare. did not have to be worried about not just for the midterm election for the president of the potential reelection but for having political support in the country to...
0
0.0
Jan 30, 2023
01/23
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the deficit went half a trillion to a trillion a year. and now as far as the eye can see so congress is reflective of what people's desires are. spend money and not pay taxes and that's how you end up with deficits. if there were a lot of people who decided to say balance your budget, cut spending and particularly cut these particular programs, they could get the numbers to change so more people wanted to raise taxes or want to cut various benefits than
the deficit went half a trillion to a trillion a year. and now as far as the eye can see so congress is reflective of what people's desires are. spend money and not pay taxes and that's how you end up with deficits. if there were a lot of people who decided to say balance your budget, cut spending and particularly cut these particular programs, they could get the numbers to change so more people wanted to raise taxes or want to cut various benefits than
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21
Feb 22, 2017
02/17
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with the deficit that we inherited [applause]. the cost of the crisis we face and the long-term challenges we must meet has never been more important to ensure that as our economy recovers we do what it takes to bring this deficit down. that is critical. now, we have passed a recovery plan free of earmarks. each dollar we spend reflects only our most important national priorities. and yesterday i held a fiscal summit. i pledged to pledge to cut the deficit in half. to go line by line in the federal budget in order to eliminate wasteful and ineffective programs. you can imagine it will take some time but we have already identified $2 trillion in savings over the next decade. in this budget we will and education programs that don't work. and and direct payments to large budgets. we will eliminate, [applause]. we will eliminate the no big contracts. and reform our defense budget so that we are not paying for weapon systems we don't use. we will root out the waste and abuse in our medicare program that doesn't make our seniors any hea
with the deficit that we inherited [applause]. the cost of the crisis we face and the long-term challenges we must meet has never been more important to ensure that as our economy recovers we do what it takes to bring this deficit down. that is critical. now, we have passed a recovery plan free of earmarks. each dollar we spend reflects only our most important national priorities. and yesterday i held a fiscal summit. i pledged to pledge to cut the deficit in half. to go line by line in the...
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161
Apr 20, 2013
04/13
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we saw larger deficits, some of larger government. some of the discretionary spending cut and the democratic growth did cut the government's share of the private economy. we saw when even while reagan was in office when it came time to deal with the deficit that was something we ended up doing on democratic terms. with tax increases that began to wipe out the reagan tax cuts before he left office. and sharply curtailing when bush iv i was in office. that approach did not shrink the federal government. the next approach that was used was the theory of starve the beast. which contradicts the supply side. but we were in a slightly different place. instead of now we get the tax increase. we argue the tax cuts will reduce revenue. it will mean that the federal government has less money to spend and spend less. i think it's half right if you give the federal government more money it will find a way to spend it. the history of 2000s show it actually made growth of government seem like it was cost free. even taxation deferred than tennesseeed
we saw larger deficits, some of larger government. some of the discretionary spending cut and the democratic growth did cut the government's share of the private economy. we saw when even while reagan was in office when it came time to deal with the deficit that was something we ended up doing on democratic terms. with tax increases that began to wipe out the reagan tax cuts before he left office. and sharply curtailing when bush iv i was in office. that approach did not shrink the federal...
2
2.0
Nov 12, 2021
11/21
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there was thinking that big deficit is bad . if you had a student loan program the waythe government did a county , the way the government did accounting was that if you generated $1 billion in debt. let's say you gave students $1 billion in oneyear . spending would rise up by that much. in that one year. so the program look very expensive when you gave students loans.and when students pay them back 10 years out or whatever, then spending would go down because that would be counted against them. the important thing to know is having a student loan looked very expensive. so lyndon johnson came up with this idea and it wasn't just him, there were others but the idea was let's have the banks make the loans to students, therefore no money has to come out of the treasury at least on the front and so if banks are doing it, then it will be off our books and therefore the federal deficit will be unscathed. so that's great at the start but banks don't do things through the good of their hearts, they want to make money. banks basically sa
there was thinking that big deficit is bad . if you had a student loan program the waythe government did a county , the way the government did accounting was that if you generated $1 billion in debt. let's say you gave students $1 billion in oneyear . spending would rise up by that much. in that one year. so the program look very expensive when you gave students loans.and when students pay them back 10 years out or whatever, then spending would go down because that would be counted against...
8
8.0
May 5, 2021
05/21
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eye 8
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. >> we have a deficit problem and a spending problem that had to be dealt with. we were going to have to raise theav debt ceiling. it requires congress to increase the amount to the federal government. it's never an easy vote and i told the president i wasn't going to increase. so we entered into a very serious negotiation, all very quietly but finally in the latter part of july on the biggest deficit reduction bill the country has ever seen some $5.2 trillion with a deficit reductiono over ten years. it may be the changes being c agreed to have long tails to them that in the second or third ten years that would save tens of trillions of dollars i don't think would have solved the spending problem but it would have put us on a much firmer path for the future. days later the president walked away from the meeting. i bend my neck out as far as it could be. at one point my staff came to me and said you keep talking to obama about this big deal and you are risking your job. i told my staff fine if i get this deal out they can throw me out tomorrow because i will be h
. >> we have a deficit problem and a spending problem that had to be dealt with. we were going to have to raise theav debt ceiling. it requires congress to increase the amount to the federal government. it's never an easy vote and i told the president i wasn't going to increase. so we entered into a very serious negotiation, all very quietly but finally in the latter part of july on the biggest deficit reduction bill the country has ever seen some $5.2 trillion with a deficit reductiono...
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Jun 30, 2012
06/12
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uale i d y hen fias r bee $1.3 and $1.7 trillion annual deficit. add $5 trillion to the national debt in just three years. ad5tronthtihis wayt t debt. for the first 216 years of the republic, that's how much debt we accrued. from george washington through, the first 216 years of this thbaddtronbu e k an e so as i was, um, developing the central arguments for the book, it occurr to me that he's not just redistributing wealth her at home, athou he lu d t d wa h dit iby attacking the four core pillars of the u.s. enomy. the industrial base, the financial sector, the ener seornd t hea c ct up tnt u.s. economy, and they're all interrelated to everything else. and from day one he very thodically and deliber ntuttawnho on e market capitalism and remaking them as massive, redistributive schemes. he's been more successful in some areas than others. we'll see what the sreme court does on thursday with obamacare. wa touee sthk 's gly but he went about it in a systematic way. think about it this way: any other american president would 10neympping his lov us fr
uale i d y hen fias r bee $1.3 and $1.7 trillion annual deficit. add $5 trillion to the national debt in just three years. ad5tronthtihis wayt t debt. for the first 216 years of the republic, that's how much debt we accrued. from george washington through, the first 216 years of this thbaddtronbu e k an e so as i was, um, developing the central arguments for the book, it occurr to me that he's not just redistributing wealth her at home, athou he lu d t d wa h dit iby attacking the four core...
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142
Nov 27, 2009
11/09
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can you really create a trillion dollar government program, brand-new, and actually make it deficit neutral. how many of you really believe regardless of where you stand on the health care issue, how many of you believe that this trillion dollar government program for health care will be deficit neutral? raise your hands. one? one individual, to people. there is a lot of obama people. but my question is, if they lie to you about that, what else are they not telling us? instead of making a statement, you ask it in terms of a question and you use the rhetorical. this is how i grew up. i used to ask my mother, how far is that from the earth? she would look at me and say, how far do you think it is? this is why i'm crazy. [laughter] i never got an answer. or if it's going to cost you $20, who's going to pay for it? they're not listening to us. because we don't often know how to frame the questions for them that they have to pay attention. and quite wrinkly, we don't hold them accountable. in this book, all those questions, and in this book are those answers. i struggle with this. i wrote this t
can you really create a trillion dollar government program, brand-new, and actually make it deficit neutral. how many of you really believe regardless of where you stand on the health care issue, how many of you believe that this trillion dollar government program for health care will be deficit neutral? raise your hands. one? one individual, to people. there is a lot of obama people. but my question is, if they lie to you about that, what else are they not telling us? instead of making a...
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230
Feb 1, 2010
02/10
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. -- obsessed with these questions of tax and spending and deficit. guest: one of the most serious moments in the book is clinton's attempt to get teddy kennedy to endorse hillary over barack obama, and the frustration and anger that both clintons felt. they had gone sailing with him. president clinton would tell people how angry and frustrated he was that he had done so much for the kennedy family as president and they were drifting towards obama. hillary and bill clinton have incredible political support in massachusetts, and one of the satisfying moments for them on super tuesday was despite the endorsed barack obama, hillary was able to win massachusetts. some of her field operatives in massachusetts and new hampshire are now, as i understand, working for the democratic nominee there. they probably should have been there a little sooner. most people watching the race closely believe that their involvement is being done at the last minute, very quickly, and may be too little, too late, if i may use a cliche on c-span. host: steve on the republican
. -- obsessed with these questions of tax and spending and deficit. guest: one of the most serious moments in the book is clinton's attempt to get teddy kennedy to endorse hillary over barack obama, and the frustration and anger that both clintons felt. they had gone sailing with him. president clinton would tell people how angry and frustrated he was that he had done so much for the kennedy family as president and they were drifting towards obama. hillary and bill clinton have incredible...
7
7.0
Sep 13, 2021
09/21
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eye 7
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there was a thinking that big deficit is bad. i'm geeking out here but it's important. >> yeah. >> the way the government did accounting if you generated a billion dollars of student debt and you gave students $1 billion, federal spending would rise by that much. and then -- in that one year. so the program looked very expensive when you gave students loans. and when students paid them back ten years out or whatever, then spending would slow down because that would be counted. anyways, the important thing to know is having student loan on government's books looked very expensive and so lyndon johnson came up with this idea and it wasn't just him but others but basically the idea was let's just have banks make loans to students, therefore, no money has to come out of the treasury at least on the front end and so if banks are doing it, then it'll be off our books and federal deficit would be unscathed. this sounded good at the time. banks do do things for the good of their heart. they want to make money. if you want to do this, ban
there was a thinking that big deficit is bad. i'm geeking out here but it's important. >> yeah. >> the way the government did accounting if you generated a billion dollars of student debt and you gave students $1 billion, federal spending would rise by that much. and then -- in that one year. so the program looked very expensive when you gave students loans. and when students paid them back ten years out or whatever, then spending would slow down because that would be counted....
131
131
Jul 13, 2009
07/09
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eye 131
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he eliminated the deficit barack obama has quadrupled it. clinton cut mortgage interest rates buy three or four points. , is letting them go up. clinton eliminated the deficit by cutting the capital gains tax from 20 percent down at 20 and i am not crazy you cut that more people sell and buy and there is more transactions and produces more revenue and eliminated of us -- permitted us to eliminate the budget deficit price that in the oval office she literally wrote a budget from memory he did not need any thing. he knew all of the 50,000 lines and he wrote a budget and those cuts were completely meaningless the only ones that mattered was the capital gains tax cut because that generated revenues that eliminated the deficit. obama does the opposite. he is increasing the deficit that when you go to borrow money to refinance your home the fed is elbowing you out of the way now the fed knows that if it let interest rates go as high as they can go with this massive borrowing that we will be in the great depression. do you know, what they're doing?
he eliminated the deficit barack obama has quadrupled it. clinton cut mortgage interest rates buy three or four points. , is letting them go up. clinton eliminated the deficit by cutting the capital gains tax from 20 percent down at 20 and i am not crazy you cut that more people sell and buy and there is more transactions and produces more revenue and eliminated of us -- permitted us to eliminate the budget deficit price that in the oval office she literally wrote a budget from memory he did...
0
0.0
Jan 31, 2023
01/23
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you end up with deficits from people not ending on taxes. it people decided to balance their budget and it they said cut these particular programs, and they could get those numbers to change so that more people want to raise taxes or cut areas government benefits, they would start reflecting that. they generally want to get reelected and these are the politics that will get them reelected. host: you talked about the new congress and one thing we saw play out last week was the removal of adam schiff from the intelligence committee. i want to play you of what his reaction was on cnn yesterday and we will talk about the third player in this what might happen there. guest: mccarthy has said adam schiff prosecute a case against trump and the ukraine impeachment was a hoax. he gives 15 explanations in the only real explanation is he needs marjorie taylor greene's vote and he wants to retaliate for their removal from the committee and apparently believes i was effective in exposing his misconduct and trumps misconduct and that's what they are tryin
you end up with deficits from people not ending on taxes. it people decided to balance their budget and it they said cut these particular programs, and they could get those numbers to change so that more people want to raise taxes or cut areas government benefits, they would start reflecting that. they generally want to get reelected and these are the politics that will get them reelected. host: you talked about the new congress and one thing we saw play out last week was the removal of adam...
3
3.0
Dec 21, 2021
12/21
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eye 3
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it will be off our books and therefore, the federal deficit will be unscathed. so, this sounded great at the start, but banks don't do things for the good in their heart, they want to make money. banks basically said look, if you want to do this-- it's interesting banks made a lot of money in the long run, but at the start didn't want to get in the business of student lending. >> because it's money to a 18-year-old, there's no collateral, and maybe they graduate, maybe they don't, so it's an unknown risk, it's not like a mortgage where you kind of know what's going to happen. >> exactly. >> and you're expanding access to lending and you can draw a parallel with the government sponsored entities like that, fannie mae, freddie mac. >> exactly. and that's a very good point. there was already a model that existed after the great depression and trying to use taxpayer money to incentivize banks to make home loans to house olds and there was already this existing model and lbj basically wanted to adopt that model for student lending. so, what ended up happening in the
it will be off our books and therefore, the federal deficit will be unscathed. so, this sounded great at the start, but banks don't do things for the good in their heart, they want to make money. banks basically said look, if you want to do this-- it's interesting banks made a lot of money in the long run, but at the start didn't want to get in the business of student lending. >> because it's money to a 18-year-old, there's no collateral, and maybe they graduate, maybe they don't, so it's...
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186
Sep 16, 2012
09/12
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.- and to i buusteing them mronns finl deficit organizations. i will tell you that we, many catholics are very shocked several years ago. not to then invited obama. i rrond a bria i pitch filed ions inst this ocloma mandate on schools and colleges, and it is yers theh rronding. i think it is about -- i don't know -- 50, 75 pages. it sets it unewone a ber another and religious freedom in this country has got to me that christveran ervin hools and cols and hospitals do not have to violate their religious belief in oe fer to pro allde insamera, health insurance to their employees. >> thae std boou for everythingy do. i hhen e a lot of christian friends. they just dons c want to be involved in politics. they see it as a dirty thing. so much fighting or whenever and thnot o muust don't want to get involved. i was wondering ifd boou hhen e ad allce, htes we can engionse e of the more apathetic christians, some of the pe feple that muust dons c see the importance of taking action, and being involved. ate t welation that is a gof 2d question. the high p
.- and to i buusteing them mronns finl deficit organizations. i will tell you that we, many catholics are very shocked several years ago. not to then invited obama. i rrond a bria i pitch filed ions inst this ocloma mandate on schools and colleges, and it is yers theh rronding. i think it is about -- i don't know -- 50, 75 pages. it sets it unewone a ber another and religious freedom in this country has got to me that christveran ervin hools and cols and hospitals do not have to violate their...
162
162
Oct 23, 2012
10/12
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eye 162
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deficits, we were promised that deficits would be cut in half and they have been triple. we are awful a factor of six. energy, the obama-mccaskill record, the funding of solyndra, the epa given the power to shut down the coal industry. and, of course, stopping drilling and the keystone pipeline and gasoline prices have doubled. health care, is even worse. 71% of us in missouri voted against the government takeover of health care, and claire mccaskill right after that voted to pass it. there's a reason for this record of failures and that's because obama and mccaskill have a deep and abiding faith that deep, is the solution to every problem. and that's why they couldn't fulfill the records. claire is going to washington, d.c. and she is brought us red tape and taxes and all kinds of bureaucracy, and executive orders. she doesn't understand that these big government solutions chilcot freedom. now, what i would suggest is that you could bring me to washington, d.c. in the senate so that we could take the missouri commonsense back to washington, d.c. and not a lot of bureaucr
deficits, we were promised that deficits would be cut in half and they have been triple. we are awful a factor of six. energy, the obama-mccaskill record, the funding of solyndra, the epa given the power to shut down the coal industry. and, of course, stopping drilling and the keystone pipeline and gasoline prices have doubled. health care, is even worse. 71% of us in missouri voted against the government takeover of health care, and claire mccaskill right after that voted to pass it. there's a...
3
3.0
Jun 20, 2021
06/21
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eye 3
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we haven't deficit problem and a spending problem but it had to be dealt with. we have to raise the debt ceiling in the middle of 2011 at the debt ceiling is this artificial statute that requires congress every so often to increase the amount of money that the federal government can borrow and we have done this for the last 40 years. it's never an easy vote and i wasn't going to increase the debt. let's introduce something that helps her spending problem so we got into a very serious negotiation all very quietly or at least i thought it was mostly quiet until it kept blowing up in my face. but finally in the latter part of july president obama and i stood in the oval office with eric cantor and all three but should cancel the dig is deficit reduction bill the country had ever seen. some $5.2 trillion worth of deficit reductions over 10 years and many of the changes we agreed to have long -- to them and would have saved the country tens of trillions of dollars. it would assault her spending per problem but it would have put us on a firmer path to the future. unfo
we haven't deficit problem and a spending problem but it had to be dealt with. we have to raise the debt ceiling in the middle of 2011 at the debt ceiling is this artificial statute that requires congress every so often to increase the amount of money that the federal government can borrow and we have done this for the last 40 years. it's never an easy vote and i wasn't going to increase the debt. let's introduce something that helps her spending problem so we got into a very serious...
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96
Mar 19, 2012
03/12
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if they want to see them work together, they want action on the deficit. the arkansas and about the deficit and concern about the economy, and i think they understand that the two of them go together and the day will come very soon when we have got to deal with the deficit and this incredible weight hanging over our head. they want to make sure the country remains safe, but they also i think are happy that we are getting all of our foreign entanglements because i think they felt we have got problems here at home that we need to be addressing. they would like to see less money in politics, they would like to see the political leaders being more responsive. i do think they are concerned about fairness as it relates to the tax code and to the benefit the wealthy and the eletes get they don't feel like they are getting. i don't think these are all issues that they would like to see the congress and the president address. >> host: let's talk about conagra's and the president or the presidency. so, why do you think it's become such a dead end? is it the money, i
if they want to see them work together, they want action on the deficit. the arkansas and about the deficit and concern about the economy, and i think they understand that the two of them go together and the day will come very soon when we have got to deal with the deficit and this incredible weight hanging over our head. they want to make sure the country remains safe, but they also i think are happy that we are getting all of our foreign entanglements because i think they felt we have got...
99
99
Mar 25, 2012
03/12
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eye 99
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action on the deficit, concerned about the deficit, concerned about the economy. i think they understand that the two go together and that the day will come very soon when we have got said deal with the deficit. they want to make sure the country remain safe, but they also, i think, happy that we are getting out of our foreign entanglements. i think they feel that we have problems your home that we need to be addressing. that like to see political leaders being more responsive. i do think they are concerned about fairness. as it relates to the tax cut and to the benefits that the wealthy and the leaves get that they don't feel they're getting. so i think these are all issues, you know, that they would like to see congress and the president address. >> host: let's talk about congress and the president or the presidency. let's start with congress. so why do you think it has become? the money, ideology, you know, the kind of partisanship that started in the 90's? all of those things, of course, but what is the main thing to you? >> guest: i think you have hit all of
action on the deficit, concerned about the deficit, concerned about the economy. i think they understand that the two go together and that the day will come very soon when we have got said deal with the deficit. they want to make sure the country remain safe, but they also, i think, happy that we are getting out of our foreign entanglements. i think they feel that we have problems your home that we need to be addressing. that like to see political leaders being more responsive. i do think they...
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Dec 21, 2021
12/21
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so banks are doing it and it will be off of our books and the deficit will be unscathed. s it sounded great at the start. they will -- and banks don't do things for the good of their heart and they said this is what's interesting banks that are making a lot of money they don't want to get in to lending. >> its money to an 18-year-old and there's no collateral and maybe they graduate or maybe they don't. and it's expanding access to lending.g government-sponsored entities like fannie mae and freddie mac. >> that is a very good point. there was a model that existed going back to the great depression where the government because of what was happening in the great depression with the housing market and everything else started to try to use taxpayer moneyse to incentivize banks to make home loans to households and so there was this existing model and lbj wanted to use that model for student lending. what endedha up happening in the name of reducing federal spending he actually he and congress increased federal spending. not only did you have to cover the loss when students did
so banks are doing it and it will be off of our books and the deficit will be unscathed. s it sounded great at the start. they will -- and banks don't do things for the good of their heart and they said this is what's interesting banks that are making a lot of money they don't want to get in to lending. >> its money to an 18-year-old and there's no collateral and maybe they graduate or maybe they don't. and it's expanding access to lending.g government-sponsored entities like fannie mae...
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102
Nov 9, 2015
11/15
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, the deficit disappears, wages go up quites go a bit.et mput i let me put it this way. all of the president in our lifetime -- so let's go back to fdr held as he stack up? up is he on the other end or the lower end, where do you put it?q >> it really frustrated bill clinton when there was an anniversary at hyde park and began arthur schlessinger junior and other roosevelt story andas scatter and they say this guy doesn't rank and he sends a letter to then defending himself favori he regretted the fact he didn't show his greatness. had [laughter] didn't >> you didn't look at the racytb parts? looke tonight i also looked at what was shown in the presidentialliy library all of these big tones about abraham lincoln and about franklin roosevelt and leadership such a gift to your question i think bill clinton during the time didn't look like du he could stack up but you are right when you look at what he p accomplished and it was hisbut i accomplishment.t it's a big mistake right to beif distancing himself from the accomplishment in fighting crima it is because 100,000 police
, the deficit disappears, wages go up quites go a bit.et mput i let me put it this way. all of the president in our lifetime -- so let's go back to fdr held as he stack up? up is he on the other end or the lower end, where do you put it?q >> it really frustrated bill clinton when there was an anniversary at hyde park and began arthur schlessinger junior and other roosevelt story andas scatter and they say this guy doesn't rank and he sends a letter to then defending himself favori he...
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Nov 11, 2021
11/21
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there was the thinking that the deficit is bad. so if you had a student loan program the way the government did accounting and i'm peeking out here but it's important. the way the government did accounting was if you generated $1 billion in debt, let's just say you gave students $1 billion in one year, federal spending would up by that much. and then in that one year. so the program looked very expensive when you gave students loans. and when students pay them back. 10 years out or whatever then spending would go down because that would be counted as income. anyways the important thing to know is that having a student loan for on the government's books look very expensive so lyndon johnson came up with this idea and it wasn't just him. there were others but basically the idea was let's just have banks make loans to students . therefore no money have to oacome out of the treasury at least on the front-end. so if banks are doing it, and it will be all our books and therefore the federal debt deficit will be unscathed. so this sounded
there was the thinking that the deficit is bad. so if you had a student loan program the way the government did accounting and i'm peeking out here but it's important. the way the government did accounting was if you generated $1 billion in debt, let's just say you gave students $1 billion in one year, federal spending would up by that much. and then in that one year. so the program looked very expensive when you gave students loans. and when students pay them back. 10 years out or whatever...
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Oct 5, 2020
10/20
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they have been running deficits with this country since the beginning of the relationship. we have been in deficit to them and trade and we have shared our technology both openly and willingly as well as permitting their theft. it's been extraordinary and an unprecedented relationship between the wealthy power and the merging one. at no time was it required of us that we be the global chomp that we played. and we did it under clinton, bush, obama. you couldn't have asked for a trifecta of worst presidents to put together in the national security. it's devastating from what we have squandered. and we did so with the knowledge of joseph stiglitz who was a nobel prize-winning economist for the adventurism in iraq it ended up being $6 trillion and counting in addition to the lives we lost. we have gone through a period of madness that is remarkable. and donald trump to step forward. he's the only one who wasn't deranged in the entire city of washington. it's quite something to behold. >> host: one of the things you point out is how insidious this is and we saw it with the devel
they have been running deficits with this country since the beginning of the relationship. we have been in deficit to them and trade and we have shared our technology both openly and willingly as well as permitting their theft. it's been extraordinary and an unprecedented relationship between the wealthy power and the merging one. at no time was it required of us that we be the global chomp that we played. and we did it under clinton, bush, obama. you couldn't have asked for a trifecta of worst...
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Oct 5, 2020
10/20
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with this country from the beginning of the relationship we have been in deficit to them in trade and shared our technology as well as permanently permitting their death and those that relationship between the wealthy power and the emerging one. at no time was it required of us to be the global chomp that we did under clinton and bush and obama and with the trifecta of worst presidents to string together and then national security it is devastating to what we have squandered and we did so with the knowledge of just to one - - joseph stiglitz the prize-winning economist and warned test with the wars of the middle east would amount to he just given - - did not give us a significant warning he said it would be 3 trillion and ended up paying $6 trillion and counting in addition to the lives we lost we have gone through. of madness that is remarkable and it took donald trump to step forward the trump derangement syndrome he is the only one that wasn't arranged in the entire city of washington. it's really quite something. >> and then we see that with a 5 billion-dollar make a. but it chang
with this country from the beginning of the relationship we have been in deficit to them in trade and shared our technology as well as permanently permitting their death and those that relationship between the wealthy power and the emerging one. at no time was it required of us to be the global chomp that we did under clinton and bush and obama and with the trifecta of worst presidents to string together and then national security it is devastating to what we have squandered and we did so with...
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Jan 13, 2017
01/17
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how can elected officials discuss deficits when we propose to spend money on preschool for kids but now all we talk about cutting taxes for corporations. had we diffuse disagreements in our own party but passed when the other party does the same thing. it's not just dishonest, the selective sorting of the facts, it's self-defeating because, as my mom used to tell me, reality has a way of catching up with you. [applause] take the challenge of climate change in just eight years we have passed our dependence on foreign oil, we doubled our renewable energy and let the world to an agreement that has the promise to save this planet. [applause] without bolder action, our children won't have time to debate the existing of climate change. they will be dealing with the effects, more environmental the disasters, more economic disruptions and climate refugees seeking sanctuary. we can and should argue about the best approach to solve the problem, but to simply deny the problem, not only betrays future generations, it betrays the essential spirit of this country, the the spirit of innovation and pra
how can elected officials discuss deficits when we propose to spend money on preschool for kids but now all we talk about cutting taxes for corporations. had we diffuse disagreements in our own party but passed when the other party does the same thing. it's not just dishonest, the selective sorting of the facts, it's self-defeating because, as my mom used to tell me, reality has a way of catching up with you. [applause] take the challenge of climate change in just eight years we have passed our...
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8.0
May 8, 2021
05/21
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reduction bill the country has ever seen. $5.2 trillion deficit reduction over 10 years. the changes we agreed to, and the third 10 years, would have saved the country, and on a much further path into the future, and my biggest disappointment is a member of congress, i had my neck out as far as it can be stretched. they say you keep talking to obama about this big deal, you're risking your job and i told my staff, and one happy thing. it didn't happen. >> tell us about your working relationship with president obama, how often did you speak, did you feel he was honest and a strong relationship. >> he was the president and thousand 9-10, i was the minority leader, i got to know him a little bit, it was pretty rocky and major initiatives in congress were opposed to all of them, he looked at us, with some real disdain and here i am, republican and he's a democrat, he's the speaker, i have a relationship with this guy. it is who i am. i didn't go there to make noise but do something on behalf of the country. i made myself develop a relationship with barack obama and we have a
reduction bill the country has ever seen. $5.2 trillion deficit reduction over 10 years. the changes we agreed to, and the third 10 years, would have saved the country, and on a much further path into the future, and my biggest disappointment is a member of congress, i had my neck out as far as it can be stretched. they say you keep talking to obama about this big deal, you're risking your job and i told my staff, and one happy thing. it didn't happen. >> tell us about your working...
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131
Nov 6, 2010
11/10
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the economy obviously which means job creation, spending, debt and deficit. i think republicans are looking at this and saying that's what the agenda is. now they will also say repeal of the health care bill is part of our mandate, but they don't actually i think believe that. i think -- has the believe the people who sent them here on that to happen by and large, but they also recognize it's not going to happen. so i think the house will pass some votes to repeal the obama healthcare looks stock and barrel. they will die, those votes will die in the senate or maybe they will somehow be a collision that sends us to president obama's desk to die and they will go back and try to defund parts of the health care bill and stop parts of it from being put into affect and i think that is an important thing politically but the core issue of republicans is spending tax levels and that is i think the overall and first effect of the vote is going to be reduced the agenda in washington to the subjects of particular which isn't going to be pretty the way because those are
the economy obviously which means job creation, spending, debt and deficit. i think republicans are looking at this and saying that's what the agenda is. now they will also say repeal of the health care bill is part of our mandate, but they don't actually i think believe that. i think -- has the believe the people who sent them here on that to happen by and large, but they also recognize it's not going to happen. so i think the house will pass some votes to repeal the obama healthcare looks...
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160
Feb 16, 2010
02/10
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we are spending too much, the deficit is too high. it is to many people unemployed and i think obama isn't concentrating with the problems are in the country. he's concentrating on his ideas. >> host: marrec halperin? >> host: >> caller: what was the name of the call or? i would call her nancy ak fifa ducks elrod's worst nightmare. this was the kind of voter sympathy that voted for what about the white house political at pfizer like david axelrod have to be worried about to say not just for the midterm elections and the president's potential re-election but having political support in the country to pass the agenda in the short term. he has done the things most dangerous for any politician, lost control for a large segment of his public image how he is being perceived to be the reality is as we should during the campaign he was very skillful being what george bush successfully did was in a sense all things to all people, liberals could see in his rhetoric and parts of his agenda someone who would come to the white house and enact a li
we are spending too much, the deficit is too high. it is to many people unemployed and i think obama isn't concentrating with the problems are in the country. he's concentrating on his ideas. >> host: marrec halperin? >> host: >> caller: what was the name of the call or? i would call her nancy ak fifa ducks elrod's worst nightmare. this was the kind of voter sympathy that voted for what about the white house political at pfizer like david axelrod have to be worried about to...
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Jul 12, 2011
07/11
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it didn't reduce the deficit then. you raise a dollar, you increase the deficit. i'll be a little more specific. now, working with steven moore of the "wall street journal," professor vetter updated that research last year and came to the same result. specifically, moore and vetter found -- and i quote -- "over the entire post war ii era, through the year 2009, each dollar of new tax revenue was associated with $1.17 in new spending. that's like a dog chasing his tail. very few dogs catch it. and so you raise $1 here. well, the common sense might dictate it goes to the bottom line, but it doesn't work out that way. it actually increases the deficit because congress feels, well, we got a new dollar coming in. let's spend $1.17. so history proves tax increases result in spending increases. and so we know that increasing taxes is not going to reduce the deficit. history also shows that tax increases don't increase revenues. now, that's probably contrary to most people's common sense, but i have a chart here that i think demonstrates this very clearly. and i'll be som
it didn't reduce the deficit then. you raise a dollar, you increase the deficit. i'll be a little more specific. now, working with steven moore of the "wall street journal," professor vetter updated that research last year and came to the same result. specifically, moore and vetter found -- and i quote -- "over the entire post war ii era, through the year 2009, each dollar of new tax revenue was associated with $1.17 in new spending. that's like a dog chasing his tail. very few...
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125
Jul 22, 2012
07/12
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then you see the deficit coming down long-term. we borrowed 1.4 erred trillion dollars. but the chinese will still have those dollars. may get them to buy united states reconstructions. creating 5 million jobs of the construction sector that a desperate leave need to lay the groundwork for economic growth. with the air-traffic control system it is the same as the 1960's people looking at the television set to with the red dot. also lastly long term. we have to change the way we tax and employment. social security tax unemployment tax. we need those programs desperately but we don't need the full burden but we should be taxing things such plastics, aluminum, ineffici ent buildings, cars, and the value added tax using that money for social security and medicare. thereby to put to in place a tax system encouraging people to higher. >> how would you engaging our citizens? we hear stories. we know the numbers. 9.7, 15.eight they all have good dead end. how do make this work? >> to me, and the media in the internet age has less impact and fragmented that cable channels that al
then you see the deficit coming down long-term. we borrowed 1.4 erred trillion dollars. but the chinese will still have those dollars. may get them to buy united states reconstructions. creating 5 million jobs of the construction sector that a desperate leave need to lay the groundwork for economic growth. with the air-traffic control system it is the same as the 1960's people looking at the television set to with the red dot. also lastly long term. we have to change the way we tax and...
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Apr 11, 2020
04/20
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eye 32
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[laughter] the reason i put the iphone, bilateral trade deficit. something our president is obsessed with. the iphone was designed in the united states about the rare mineral used for the country the democratic republic of congo. the chipset measures the steps comes from the netherlands. the gyroscope that makes, you can turn it this way or sideways and it's always proper from switzerland. the biggest impediment in korea the class, which i frequently crack comes from new york. so this would not have existed without global trade, without trade movement, we would not have an iphone. it is assembled in china and as a result, it's considered by the world, chinese import. it comes to the united states, apple is proprietary. it cost about $230, across the $1000, 100. of the $230, $8.46, something less than $10 actually goes to china. yet, the full $230 fine, 16, $18 billion a year of off trade deficit with the iphone and get, very small part comes from china. it's not a very good way to look at bilateral trade deficit, which is assessed with. i have a ba
[laughter] the reason i put the iphone, bilateral trade deficit. something our president is obsessed with. the iphone was designed in the united states about the rare mineral used for the country the democratic republic of congo. the chipset measures the steps comes from the netherlands. the gyroscope that makes, you can turn it this way or sideways and it's always proper from switzerland. the biggest impediment in korea the class, which i frequently crack comes from new york. so this would not...
190
190
Jul 18, 2009
07/09
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bill clinton and eliminated the deficit, barack obama has quadrupled it. bill clinton cut mortgage interest rates by three or four points, obama is letting them go up. bill clinton eliminated the deficit by cutting the capital gains tax from 20% to 20 and i'm not crazy, you cut the capital gains and more people sell and buy. there is no more transaction and produces more revenue have permitted us to eliminate the budget deficit. i remember sitting with him with a yellow pad in the oval office and he literally wrote the budget from memory, this guy didn't need anything. he knew everyone of of 2000 mines and the federal budget and he wrote a budget. those cuts ended up being completely meaningless. the only cut that mattered was the capital gains tax cut because that generated revenues that eliminated the deficit, but obama is doing the opposite. so increasing the deficit that when you go to borrow money for your refinancing of their home the fed is elbowing you're out of the way. now the federal reserve board knows that if they let interest rates go as high
bill clinton and eliminated the deficit, barack obama has quadrupled it. bill clinton cut mortgage interest rates by three or four points, obama is letting them go up. bill clinton eliminated the deficit by cutting the capital gains tax from 20% to 20 and i'm not crazy, you cut the capital gains and more people sell and buy. there is no more transaction and produces more revenue have permitted us to eliminate the budget deficit. i remember sitting with him with a yellow pad in the oval office...
45
45
Apr 15, 2020
04/20
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that the richss can maintain those deficits and that's a great achievement. and i think it is worth taking seriously in the book. if it really is the case for certain technological feelings and that we will not invent the warp drive that we should not totally be unhappy with that scenario.o. that being side on - - that being said there is a tendency for that reason ability to become a council of course i despair. and we just have to accept the limits on the imagination. and increasingly to one side and also the aspect of decadence that we have talked a little less butct where and that brave new world scenario even under those conditions are under a real peril. and not the gulags but where people's horizons are narrow and you will have small families because you don't want a carbon footprint and you don't have wide kinship networks and then the next thing you know you are right it is territory and that is why. i don't think we are there but there are elements in society that we have online pornography that is a substitute for real life romance, sex and marriag
that the richss can maintain those deficits and that's a great achievement. and i think it is worth taking seriously in the book. if it really is the case for certain technological feelings and that we will not invent the warp drive that we should not totally be unhappy with that scenario.o. that being side on - - that being said there is a tendency for that reason ability to become a council of course i despair. and we just have to accept the limits on the imagination. and increasingly to one...
130
130
Mar 18, 2012
03/12
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a lot about deficit reduction. he is not running for re-election. he has announced that he is not running for election. >> host: some of this has come from the sense that he is retired. >> guest: that's right so he is free to say and do what he wants. the republican party can't do anything about it. >> host: let's skip ahead a little bit and talk about solutions. they are hard to come by. i will be honest with you, it's a little brief but i don't blame you because it's hard to figure out what they have to do about this. let me talk about two categories of solutions. the first one that occurs to most people when they think about are deadlocked system is they think about a third party presidential candidacy from the center. do you think that is the solution or without -- could such a person actually when? >> those are sort of two separate questions. >> host: the right wing people that care about the should be extending their energies. we will put it that way. >> guest: i will say, and were going to hear more about an
a lot about deficit reduction. he is not running for re-election. he has announced that he is not running for election. >> host: some of this has come from the sense that he is retired. >> guest: that's right so he is free to say and do what he wants. the republican party can't do anything about it. >> host: let's skip ahead a little bit and talk about solutions. they are hard to come by. i will be honest with you, it's a little brief but i don't blame you because it's hard to...
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66
Oct 27, 2020
10/20
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i'm am businessman and i know w to bounce the budget and i'm going to cut the deficit and oh by the way -- that sounds like a great message and if somebody who just had 50 years of political favors to pay back and somebody he who didn't have to pay back and somebody who put him in the statehouse forward ever and yet he increased the deficit at faster rates than obama and i the way that was before the coronavirus. we have got thero biggest that ever and he didn't bring the troopshe d home. what i keep telling trump voters as you know what, if you like the facts if the reason you voted for trump was you had bigger government under a bomb and if the reason you voted for trump as you don't think obama increase the deficit fast enough thenen go ahead and vote for trp if you want to send a message to trump which is hey we voted for you because you're an outsider since you are not being the outsider we are going to vote for the real outsider. your vote is going to matter so how about sending a message to trump so if he wins again he gets the message that oh i guess my voters want me to be -- t
i'm am businessman and i know w to bounce the budget and i'm going to cut the deficit and oh by the way -- that sounds like a great message and if somebody who just had 50 years of political favors to pay back and somebody he who didn't have to pay back and somebody who put him in the statehouse forward ever and yet he increased the deficit at faster rates than obama and i the way that was before the coronavirus. we have got thero biggest that ever and he didn't bring the troopshe d home. what...
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154
Oct 17, 2011
10/11
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notion that the depression didn't end until world war ii emerge from the fact that spending and the deficit both soared between 1941 and 1945 but the trend really started much earlier. it the new deal did not think of as stimulus. there were those to press for much more roosevelt with his inner circle with work-release and government construction as a way to keep them spending money to buy time and incidentally but all of this did have a stimulative effect. the so this war we talk about the economic context of the new deal and specific initiatives but what about the political consequences? like to spend time on this because of the political opposition. merry deluded to end the partisan end line up was very different both parties democrats and republicans in fact, one of the strongest progressives was those who as governor and was a republican and and ran for vice president 1912 those parties also had very strong conservatives with those senators and congressmen some who would splinter off into the party from 1948. roosevelt from the antagonism that complain he was creating uncertainty anze
notion that the depression didn't end until world war ii emerge from the fact that spending and the deficit both soared between 1941 and 1945 but the trend really started much earlier. it the new deal did not think of as stimulus. there were those to press for much more roosevelt with his inner circle with work-release and government construction as a way to keep them spending money to buy time and incidentally but all of this did have a stimulative effect. the so this war we talk about the...
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96
Feb 7, 2010
02/10
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there's a fundamental difference between short term deficits and structural deficits. that the current short-term deficits largely were inherited by barack obama. and that we need to recognize that some level of short-term deficits are understandable because we're in a recession. we've got two undeclared wars. we've had a number of bailouts and other extraordinary actions. and unemployment is very high. and so he made it very clear that he wants to try to take some steps to try to get the economy growing on a consistent basis and to try to bring unemployment down. and he's going to propose a number of tax cuts or tax preferences as well as spending increases to try to do that. that may exacerbate the short-term deficit. but then he pivoted which i think is important to talk about the structural deficit. and that's what threatens our ship of state. it's not the ice that's above the water. it's the ice that's below the water. it's not what's the -- the debt that's on the balance sheet. it's what's off the balance sheet that represents our -- the threat to the future. and
there's a fundamental difference between short term deficits and structural deficits. that the current short-term deficits largely were inherited by barack obama. and that we need to recognize that some level of short-term deficits are understandable because we're in a recession. we've got two undeclared wars. we've had a number of bailouts and other extraordinary actions. and unemployment is very high. and so he made it very clear that he wants to try to take some steps to try to get the...
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23
Feb 21, 2017
02/17
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so deficit. so that makes the difference but even half a percentage point isn't enough to balance the budget essentially in 10 years. >> let me go to another topic. let's go to figure number two, please pick one of the most troubling aspects of our cbo's outlook is the low rate of labor workforce participation. that rate stands at 62.7% come close to a 40 year low and cbo expects this to continue to decline over the next decade which is just really disappointing. the ongoing retirement of baby boomers generation plays a key role that cbo also says government policies are exacerbating the trend. is it correct the labor force is a key component of economic growth, and how large does that role-play quick second to that is what are some of the policies that do affect of this and how do they create incentives for work? >> i think if you look at the long-rulong run growth of the e, long-run health of the economy, you can look at two different things. you can look at labor force growth and productivity
so deficit. so that makes the difference but even half a percentage point isn't enough to balance the budget essentially in 10 years. >> let me go to another topic. let's go to figure number two, please pick one of the most troubling aspects of our cbo's outlook is the low rate of labor workforce participation. that rate stands at 62.7% come close to a 40 year low and cbo expects this to continue to decline over the next decade which is just really disappointing. the ongoing retirement of...
41
41
Dec 20, 2017
12/17
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when we look at the deficit and how we have to pay off that deficit and who will pay off that deficit, it will be middle-income families will be left holding the bill. we know that and that's why this bill is not popular, that's why we know that it is not good for middle-income families and it is not good for our economy. we go further than that. they even go further. it has been pointed out in the senate they added a provision that is now in the conference report that takes out an essential part of the affordable care act on individual responsibility that would ultimately leave about 13 million americans without health insurance. now, mr. president, why was this done? it was done for two reasons. first the republicans have been trying to repeal the affordable care act, and these are 13 million people who have benefits today who will lose it, but the second thing is you can use those savings -- and they are not real savings many we're talking about less money being used to help people get health insurance. use that to provide additional tax cuts for wealthy americans and corporations
when we look at the deficit and how we have to pay off that deficit and who will pay off that deficit, it will be middle-income families will be left holding the bill. we know that and that's why this bill is not popular, that's why we know that it is not good for middle-income families and it is not good for our economy. we go further than that. they even go further. it has been pointed out in the senate they added a provision that is now in the conference report that takes out an essential...
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18
Mar 9, 2020
03/20
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eye 18
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were not really deficits at all which were in effect, those deficits may have been more sustainable the conservatives things but they are british society, paying itself to maintain a form of progress that its own fundamentals don't really justify. >> host: talk a little bit also about stagnation about the technological stagnation. you referring the book to back to the future to exemplify this. give us a walk-through that. >> guest: this is an argument i am basically stealing from a group of economists and non- economists who over the last ten years have made the case that in spite of the iphone in your pockets and all the resources in the internet, technological progress since the apollo air has been pretty disappointing so this is an argument that many have made peter teal's very famously made with his line about how we expected flying cars, delorean's winging their way into the future and instead we got 140 characters on quitter which is now 280 characters in fact there is great no great stagnation. [laughter] and robert gordon and economists at northwestern has written a sweeping
were not really deficits at all which were in effect, those deficits may have been more sustainable the conservatives things but they are british society, paying itself to maintain a form of progress that its own fundamentals don't really justify. >> host: talk a little bit also about stagnation about the technological stagnation. you referring the book to back to the future to exemplify this. give us a walk-through that. >> guest: this is an argument i am basically stealing from a...
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Oct 29, 2011
10/11
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liberal economists would love to see this as a triumph of keynesian deficit funded fiscal stimulus but the truth is that for the most part the new deal achieved its record without explicitly keynesian -- the renowned economist kerry brown made a famous remark in the 1950s that fiscal stimulus was unsuccessful during the 30s not because it doesn't work but because it was not tried. for most of the new deal stimulus of programs were almost always paired with counter stimulative programs. in the parlance of those times inflationary programs were paired with deflationary programs. work relief was paired with the economy act. public work with higher excise tax. measures to push prices for farm commodities. with industrial -- by general johnson's and are a which made the crisis on the farm as it happened much worse. the unemployment assistance provision of the social security act were balanced, maybe overbalanced by the new social security tax that went into effect on january 1st. 1937. it was not until 1938 when fdr had to address a sudden sharp recession that the new deal implemented expli
liberal economists would love to see this as a triumph of keynesian deficit funded fiscal stimulus but the truth is that for the most part the new deal achieved its record without explicitly keynesian -- the renowned economist kerry brown made a famous remark in the 1950s that fiscal stimulus was unsuccessful during the 30s not because it doesn't work but because it was not tried. for most of the new deal stimulus of programs were almost always paired with counter stimulative programs. in the...
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Jan 21, 2013
01/13
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and some believe he should have supported and promoted simpson-bowles deficit reduction proposal. he has not been able to significantly expand economic opportunity. how has obama used the tools of leadership? he attempts to communicate his vision and proposals, but he has appeared so often on television that exposure -- overexposure was agree. he's a capable public speaker, but his speech is usually lack the spirit he showed during his first campaign. he seems to lack the dramatic comedic asian skills of fdr, reagan or clinton. obama frequently comes across as a teacher, or as a motivator, not a motivator. he fails then too, frequently to excite and motivate. although he currently isn't doing bad and the current campaign. there's a reason article in a sunday edition of "the new york times" entitled obama plays to win in politics and everything else. the author paints a picture of obama that gives a still greater insight into him, and how he might function as a second term president. i'm quoting now from that article. four years ago, barack obama seems as if he might be a deliver a
and some believe he should have supported and promoted simpson-bowles deficit reduction proposal. he has not been able to significantly expand economic opportunity. how has obama used the tools of leadership? he attempts to communicate his vision and proposals, but he has appeared so often on television that exposure -- overexposure was agree. he's a capable public speaker, but his speech is usually lack the spirit he showed during his first campaign. he seems to lack the dramatic comedic asian...
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2.0
May 5, 2021
05/21
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we kept the deficit five years in a row. i would have liked to do more, but that is as much as i could get accomplished. what i saw happened over the last four, five years in spending i have to tell you just shocked me. you can't continue to spend money you don't have. you can't do it at home. you can't do it in your business. guess what? your government can't do it either. at some point, we've got to get our arms around the spending side of this. now, raising tax rates doesn't mean you're going to bring in more revenue. you're just giving people a bigger incentive to find ways around the taxes. the spending in my view has been a problem and continues to be the problem. >> so, not to put you on the spot, but what do you cut if you were back in your old job, we have our biggest deficit and debt in our history. where do you start? >> let's excuse for a moment the last year and extra money that was spent for covid-19. these guys were looking about to bottom out. emergency is in spite of this emergency that we have i understand
we kept the deficit five years in a row. i would have liked to do more, but that is as much as i could get accomplished. what i saw happened over the last four, five years in spending i have to tell you just shocked me. you can't continue to spend money you don't have. you can't do it at home. you can't do it in your business. guess what? your government can't do it either. at some point, we've got to get our arms around the spending side of this. now, raising tax rates doesn't mean you're...
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Jul 18, 2011
07/11
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he failed to undo the bush national security and failed to put guantanamo and taken up the issue of deficits in favor of the issue of jobs. many of the progressive criticisms. i hope today we can have a serious discussion about whether progressive are justified in their disappointment in obama and how much of this is obama's fault and how much is the fault of republicans and how much is the fault of the filibuster and if obama is right when he says let us not let the perfect be the enemy of the good. are turn it over to garrett graff, editor of washington magazine. his first book was the first campaign:globalization, the web and the race for the white house which examines the world of technology in the 2008 campaign. the second book is just coming out called the threat matrix, the fbi's war in the age of global terror. why don't you open it? [applause] >> as be fitting my seat on the stage, i started off in politics working on howard dean's presidential campaign and i think represent the far right wing of the panel today. the first two years of obama in a lot of ways gives true to the old po
he failed to undo the bush national security and failed to put guantanamo and taken up the issue of deficits in favor of the issue of jobs. many of the progressive criticisms. i hope today we can have a serious discussion about whether progressive are justified in their disappointment in obama and how much of this is obama's fault and how much is the fault of republicans and how much is the fault of the filibuster and if obama is right when he says let us not let the perfect be the enemy of the...